Savings fund to give postmen low rate loans
November 4, 2003 | 12:00am
President Arroyo gave her nod yesterday for the provident fund of the Philippine Postal Corp. (Philpost) to be a credit facility of mailmen and other postal employees.
Speaking at the 105th Philpost anniversary in Manila yesterday, Mrs. Arroyo said lowly paid government employees like those in Philpost must have "ready access" to credit during these difficult times.
"I understand that since 1994, your provident fund has provided with an accessible source of low rate loans for your emergency needs," she said.
Mrs. Arroyo said the Philpost provident fund has grown into a self-sustaining and vital source of credit for postal workers since the government stopped its contributions in 1996.
"So I said as long as you do not require the employer contribution, I do not need see why we cannot institutionalize your provident fund," she said.
"Therefore, with this condition, then I hereby give post-facto approval to the Philpost provident fund," she said.
It is her anniversary gift to the Philpost and the reward for the reforms initiated by Postmaster General Diomedio Villanueva, Mrs. Arroyo added. — Marichu Villanueva
Speaking at the 105th Philpost anniversary in Manila yesterday, Mrs. Arroyo said lowly paid government employees like those in Philpost must have "ready access" to credit during these difficult times.
"I understand that since 1994, your provident fund has provided with an accessible source of low rate loans for your emergency needs," she said.
Mrs. Arroyo said the Philpost provident fund has grown into a self-sustaining and vital source of credit for postal workers since the government stopped its contributions in 1996.
"So I said as long as you do not require the employer contribution, I do not need see why we cannot institutionalize your provident fund," she said.
"Therefore, with this condition, then I hereby give post-facto approval to the Philpost provident fund," she said.
It is her anniversary gift to the Philpost and the reward for the reforms initiated by Postmaster General Diomedio Villanueva, Mrs. Arroyo added. — Marichu Villanueva
